Module 7 Integrated Baseline Review and Change Control Prepared by: Booz Allen Hamilton 24. However, these should be examined to confirm the cost or schedule efficiency data is correct. Let's discuss types of baseline changes that would be subject to the change control process. Its efficiency is two thirds of that which was planned. It also tells you how far ahead or behind schedule the task is in terms of the task budget, but it is a relative measure rather than an absolute one. Department of Energy: Earned Value Management Tutorial: Module 6: Metrics, Performance Measurements and Forecasting.
This is the Performance data section that contains the current and cumulative cost and schedule information for the project. Prepared by: Booz Allen Hamilton. Explanations may be required for monthly, cumulative, and at complete variances. The objective of this module is to introduce you to the concepts of the Integrated Baseline Review Process and requirements for Change Control. A copy of the Variance Analyses Report is on the following page. In this example, the project has negative cost and schedule variances. Each index represents a performance ration to either budget or schedule.
During the evaluation process, there are no objective metrics to measure current health or forecast future performance. What is Earned Value Management? If this project is not brought under control soon, it will go wildly over budget and schedule. Module 7 Integrated Baseline Review and Change Control Prepared by: Booz Allen Hamilton 20 Change Control: Re-Planning When more extensive re-planning of future work is necessary and the total Control Account budget must be changed, Management Reserve may be used to increase or decrease the control account budgets. Fortunately, Microsoft Project tracks all this information for you and with a few clicks of the mouse and some simple division; you can add these metrics to your status report. It can be used for general inquiry into a subject and for the many links it provides for further research, but that is all. The Variance at Completion is simply a future projected Cost Variance. The planned percent complete is 30% based on the start and end dates.
Prepared by: Booz Allen Hamilton. See the charts to the right for an overview. Module 7 — Integrated Baseline Review and Change Control. The actual costs are calculated by tracking the actual spend against the project budget. Based on the project schedule, the team should have been 75 percent complete. The metrics provide an objective assessment of project health based on the project plan.
The variance reporting thresholds are pre-determined prior to the start of the program. You will get access to all the training materials on our secure and robust learning management system using your private username and password. Earned Value Management Read the following on the Earned Value Management method as a project management technique: Frank T Anbari 2003. The Essentials of Earned Value Management training program equips you with the knowledge and skills required to assess the status of your projects in terms of cost, schedule and scope. Module 8 — Reporting Government Reporting Requirements There are several reports which may be used for Earned Value Management Reporting and Analysis. It is the size of the expected cost overrun or underrun.
We have received lots of great positive feedback. The project is comprised from three phases and each phase is 4 weeks long. It is the amount that the project is supposed to be complete up to that status point. Changing a baseline merely to compensate for current variances is inappropriate. The objective of this module is to introduce you to Government required reports. The traffic light status approach is used to identify troubled projects that need management attention. The change to the budget and schedule are recorded as though the contractual scope had been changed.
You only need an Internet connection via Google Chrome, Safari, or Internet Explorer 9 or newer. As before, we will add a column to the table for Schedule Variance. The project manager will likely need to reduce scope, extend the project schedule or obtain more funding to deliver the original software enhancement. Problem Analysis: This section is used to explain the variance drivers, abnormal conditions and factors creating variances, and other issues, problems, and concerns. Take some time to review this on the following pages. When reviewing cost and schedule variances, the project manager wants the variances to be zero or greater. The second task is better but has spent one quarter too much.
The contract target cost remains unchanged. However, the customer may not require all the reports and may delete one or more. The last four variables give you projections forecasts to the end of the project. They might need some training on what the numbers mean but this is not an onerous task. Check these out on the next page. Changes to the baseline budget are fully documented and traceable per the change control process. This table can be reported directly to management.
Two final calculations are made to determine the cost and schedule performance indices. The problem with this status approach is it becomes very subjective to perception and influence. Otherwise, review this or any other module to ensure you have a solid understanding of the Earned Value Management. Improve your projects performance by unlocking the power of Earned Value Management. It is the actual cost of the work up to that status point.